Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: PaulM who wrote (25767)	1/10/1999 12:00:00 PM
From: Alex	Respond to of 116790

1/10/99 - Yeltsin suspends regional leader"s ruling on gold. <Picture> MOSCOW, January 10 (Itar-Tass) - President Boris Yeltsin on Sunday suspended a gold-related ruling by a regional leader because it violates federal legislation, the Kremlin press service said. According to Yeltsin"s decree, Yakut leader Mikhail Nikolayev"s ruling of August 27, 1998 on sending gold to the region"s reserve runs contrary to the federal law on precious stones and metals and must be put in line with it. Nikolayev"s ruling required that all gold produced in Yakutia by OAO FPK Sakhazoloto and AK Zoloto Neryungri in 1998 be sent to the region"s precious-metals reserve and sold to the federal government only after approval from the region"s committee for precious metals and stones and foreign currency. Yakutia is one of Russia"s biggest diamond and gold producers, and chairman of the Prospectors Union Viktor Tarakanovsky had cited preliminary estimates that Russia produced 100 metric tons of gold in 1998 against 126 metric tons the previous year. Yakutia brought down production to 12 metric tons from 31 metric tons. Russia produced 993 metric tons of gold from 1991 to 1997 worth 11.9 billion dollars.